Delphi Management Inc. MA Invests $1.08 Million in Axis Capital Holdings Limited $AXS

Key Points

• Delphi Management disclosed a new first-quarter stake in Axis Capital, buying 10,687 shares worth about $1.08 million.
• Axis Capital insiders and institutions were active recently: institutional ownership remains high at 93.44%, while Director Henry B. Smith sold 2,542 shares in May.
• The insurer posted better-than-expected Q1 EPS of $3.42, and it also announced a quarterly dividend of $0.44 per share to be paid on July 15.

Delphi Management Inc. MA purchased a new stake in shares of Axis Capital Holdings Limited (NYSE:AXS - Free Report) during the first quarter, according to the company in its most recent filing with the Securities & Exchange Commission. The institutional investor purchased 10,687 shares of the insurance provider's stock, valued at approximately $1,084,000.

Several other institutional investors and hedge funds also recently made changes to their positions in AXS. Orion Porfolio Solutions LLC lifted its position in Axis Capital by 5.0% in the 3rd quarter. Orion Porfolio Solutions LLC now owns 2,104 shares of the insurance provider's stock valued at $202,000 after acquiring an additional 100 shares in the last quarter. Truist Financial Corp increased its holdings in shares of Axis Capital by 2.3% in the 4th quarter. Truist Financial Corp now owns 4,597 shares of the insurance provider's stock worth $492,000 after purchasing an additional 105 shares in the last quarter. Rockefeller Capital Management L.P. increased its holdings in shares of Axis Capital by 2.0% in the 4th quarter. Rockefeller Capital Management L.P. now owns 5,390 shares of the insurance provider's stock worth $577,000 after purchasing an additional 107 shares in the last quarter. Stifel Financial Corp increased its holdings in shares of Axis Capital by 0.3% in the 4th quarter. Stifel Financial Corp now owns 37,119 shares of the insurance provider's stock worth $3,975,000 after purchasing an additional 122 shares in the last quarter. Finally, Evoke Wealth LLC raised its stake in shares of Axis Capital by 6.0% in the fourth quarter. Evoke Wealth LLC now owns 2,827 shares of the insurance provider's stock worth $304,000 after purchasing an additional 161 shares during the last quarter. Institutional investors own 93.44% of the company's stock.

Insider Transactions at Axis Capital

In other Axis Capital news, Director Henry B. Smith sold 2,542 shares of the firm's stock in a transaction dated Thursday, May 7th. The stock was sold at an average price of $98.69, for a total value of $250,869.98. Following the transaction, the director directly owned 46,347 shares of the company's stock, valued at approximately $4,573,985.43. This trade represents a 5.20% decrease in their ownership of the stock. The sale was disclosed in a document filed with the SEC, which is accessible through this hyperlink. Insiders own 0.60% of the company's stock.

Axis Capital Price Performance

NYSE AXS opened at $106.17 on Thursday. The business's fifty day moving average price is $99.63 and its 200-day moving average price is $101.90. The stock has a market capitalization of $7.83 billion, a price-to-earnings ratio of 7.91, a PEG ratio of 3.23 and a beta of 0.51. The company has a debt-to-equity ratio of 0.25, a current ratio of 0.65 and a quick ratio of 0.65. Axis Capital Holdings Limited has a 1-year low of $88.07 and a 1-year high of $110.34.

Axis Capital (NYSE:AXS - Get Free Report) last released its quarterly earnings results on Wednesday, April 29th. The insurance provider reported $3.42 earnings per share (EPS) for the quarter, topping analysts' consensus estimates of $3.33 by $0.09. Axis Capital had a return on equity of 18.12% and a net margin of 16.00%.The firm had revenue of $1.64 billion for the quarter, compared to the consensus estimate of $1.72 billion. During the same period last year, the business posted $3.17 EPS. The company's revenue for the quarter was up 8.0% on a year-over-year basis. On average, equities analysts predict that Axis Capital Holdings Limited will post 13.25 earnings per share for the current year.

Axis Capital Dividend Announcement

The company also recently announced a quarterly dividend, which will be paid on Wednesday, July 15th. Shareholders of record on Tuesday, June 30th will be issued a $0.44 dividend. The ex-dividend date of this dividend is Tuesday, June 30th. This represents a $1.76 dividend on an annualized basis and a yield of 1.7%. Axis Capital's dividend payout ratio is currently 13.11%.

Analyst Ratings Changes

AXS has been the topic of a number of research analyst reports. Wells Fargo & Company lowered their price target on Axis Capital from $123.00 to $119.00 and set an "overweight" rating on the stock in a report on Wednesday, May 6th. Weiss Ratings downgraded Axis Capital from a "buy (b+)" rating to a "buy (b)" rating in a report on Thursday, June 4th. Bank of America decreased their target price on Axis Capital from $115.00 to $106.00 and set a "neutral" rating for the company in a research report on Tuesday, April 14th. Mizuho set a $137.00 target price on shares of Axis Capital in a research note on Monday, May 4th. Finally, Keefe, Bruyette & Woods dropped their price target on shares of Axis Capital from $130.00 to $126.00 and set an "outperform" rating on the stock in a report on Tuesday, April 7th. Eight research analysts have rated the stock with a Buy rating and two have assigned a Hold rating to the stock. According to MarketBeat, the stock has a consensus rating of "Moderate Buy" and a consensus target price of $122.10.

About Axis Capital

AXIS Capital Holdings Limited, through its subsidiaries, provides various specialty insurance and reinsurance products in Bermuda, the United States, and internationally. It operates through two segments, Insurance and Reinsurance. The Insurance segment offers professional insurance products that cover directors' and officers' liability, errors and omissions, employment practices, fiduciary, crime, professional indemnity, medical malpractice, and other financial insurance related coverages for commercial enterprises, financial institutions, not-for-profit organizations, and other professional service providers; and property insurance products for commercial buildings, residential premises, construction projects, property in transit, onshore renewable energy installations, and physical damage and business interruption following an act of terrorism.

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